Public Invited To Speak On Bond

POQUOSON — City's indebtedness will start to improve over the next five years as current bonds are paid off.

The Poquoson City Council will give residents the floor to speak their minds about an $8 million bond issue that will finance school construction, a new fire hall and other projects.

The public hearing will be held at the council's Jan. 22 meeting.

About half of the bond issue would supplement funds the city is using to pay for the $18 million elementary school being built, said Charlie Burgess, Poquoson city administrator.

"This should just about do us for funding for that project," he said.

The next project it would fund is a new fire station adjacent to the existing one near Poquoson Elementary School. Burgess said the cost of the project won't be known until bids come in later this spring, but a preliminary estimate from an architect is around $2.7 million.

"We're hoping to leave room for many other projects identified in the capital improvements plan," Burgess said.

Among the projects council will also consider funding with the bond issue would be neighborhood drainage, parks or sidewalks, Burgess said.

The public hearing will be to gauge public sentiment on how residents feel about carrying debt for the projects, Burgess said.

The bond would be paid over 20 years.

Burgess said the city has ample debt capacity and its debt load will be improving.

"In the next five years, our debt drops off pretty significantly," he said.